RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
RISMedia
No Result
View All Result

Sudden Surge in Mortgage Rates Tempers Housing Sentiment

Home Latest News
January 9, 2017
Reading Time: 2 mins read
Mortgage Rates Rise for Labor Day

mortgage_rates_rise.jpg

Overall attitudes toward housing varied at the close of 2016, with more believing now is a good time to buy a home, but less believing mortgage rates will fall in the year ahead, according to Fannie Mae’s Home Purchase Sentiment Index® (HPSI) for December. The Index, which comprises six components, declined to 80.7—movement that, according to Fannie Mae Chief Economist Doug Duncan, could be the result of the sudden surge in mortgage rates.

“Despite the post-election bump in general consumer attitudes, a rapid rise in mortgage rate expectations has tamped down home purchase sentiment, at least in the near term,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “A spike in economic optimism in the immediate aftermath of an election is typical. Whether consumers will sustain this level of optimism into 2017 remains unclear. The spike in interest rates reflects, in part, the market’s anticipation of pro-growth policies from the incoming administration; if this optimism comes to fruition, it should translate into stronger income growth and increased job security for consumers—the two HPSI components that could help support housing sentiment this year.”

Month-over-month, the amount of Americans who said it is “a good time to buy a house” increased two points to 32 percent; the amount who said it is “a good time to sell” remained unchanged at 13 percent, as well as the amount who said it is “a bad time to sell,” at 38 percent. The amount of Americans who said home prices will go up also remained unchanged, at 35 percent.

The amount of Americans who said mortgage rates will go down in the next year, however, decreased four points to -55 percent. Average rates shot up above 4 percent for the first time since 2015 in November of last year, and despite cooling off last week, remain above 4 percent.

Source: Fannie Mae

For the latest real estate news and trends, bookmark RISMedia.com.

Tags: Fannie MaeHouse PricesHousing SentimentMortgage RatesTrump Administration
ShareTweetShare
Susanne Dwyer

Susanne Dwyer

Related Posts

Set the Mood with Luxury Home Lighting Solutions
Agents

Set the Mood with Luxury Home Lighting Solutions

May 19, 2022
Power Broker Perspectives: Taking Education to the Next Level
Agents

Power Broker Perspectives: Taking Education to the Next Level

May 19, 2022
Stand Out Online With .realtor™ and .realestate
Agents

Stand Out Online With .realtor™ and .realestate

May 19, 2022
How to Know If Someone Died in the Home You Want to Purchase
Agents

How to Know If Someone Died in the Home You Want to Purchase

May 19, 2022
OneKey MLS names Down Payment Resource as Designated Provider of Down Payment Assistance Tools
Agents

OneKey MLS names Down Payment Resource as Designated Provider of Down Payment Assistance Tools

May 19, 2022
Nashville Firm Worth Properties Joins Corcoran Reverie
Agents

Nashville Firm Worth Properties Joins Corcoran Reverie

May 19, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

Digital Privacy is a Growing Concern

According to a Pew Research study, half of Americans have decided against using a product solely due to privacy concerns.... Learn more.

Business Tip of the Day provided by
REGISTER NOW

Recent Posts

  • Set the Mood with Luxury Home Lighting Solutions
  • Power Broker Perspectives: Taking Education to the Next Level
  • Stand Out Online With .realtor™ and .realestate

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kitt Email Whitelist Terms & Policies

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.